Resolute Mining Limited
RSG · Main Market · Basic Resources · mcap £1,220m · 53.2p 2 open situations →
Open · 2
Mali supply chain and operating risk
Mali security and supply problems cut Syama Q2 output (5 June 2026) and pushed Syama to the lower end of guidance (20 August 2026). On 21 September 2026 Resolute cut Syama 2026 output to 150-160 koz and Group output to 205-225 koz. July and August produced only 15.5 koz. Recovery relies on an emulsion plant and a new mining contractor.
- Guidance
- Group production around lower end of 250-275 koz; AISC $2,000-2,200/oz maintained 20 Aug 2026 ↗
- Mitigation
- Onsite emulsion plant commissioning planned by November 2026; new mining contractor equipment arriving September and October 21 Sep 2026 ↗
- H1 impact
- Lower underground mining rates, reduced head grades, more reliance on lower-grade stockpiles 20 Aug 2026 ↗
- Syama guidance
- 2026 production 150-160 koz at AISC $2,300-2,400/oz, cut from around the lower end of 195-210 koz 21 Sep 2026 ↗
- Group guidance
- 205-225 koz at AISC $2,250-2,350/oz, at $4,000/oz gold, cut from 250-275 koz at $2,000-2,200/oz 21 Sep 2026 ↗
- Jul-Aug output
- 15.5 koz poured; September expected around 15 koz 21 Sep 2026 ↗
Next: Emulsion plant commissioning; Q4 Syama output of 45-50 koz · 30 Nov 2026
- 21 Sep 2026 Guidance cut again; recovery still unproven
- 20 Aug 2026 Mitigation under way; H2 recovery expected
- 30 Jul 2026 Q2 hit as flagged; improving late quarter
- 5 Jun 2026 Security disruption hits Syama Q2 output
Doropo project development
The 13 May 2026 Scoping Study was retracted on 14 May 2026, and a 3.0 Moz Inferred resource was announced in July 2026. The 21 September 2026 update reports infill drilling continuing, with 114 holes and 16,000 m drilled since Q2.
- Resource
- 3.0 Moz Inferred, announced July 2026 21 Sep 2026 ↗
- Work programme
- $15-25m: infill drilling, studies, permitting, environmental 20 Aug 2026 ↗
- Next milestone
- Feasibility studies and mining application work by end of 2027 20 Aug 2026 ↗
- Earlier study
- Scoping Study retracted 14 May 2026 30 Jul 2026 ↗
- Drilling
- More than 31,000 m completed in 2026 and included in the estimate 20 Aug 2026 ↗
- Drilling since Q2
- 114 holes, 16,000 m, 11 rigs on site, more rigs planned 21 Sep 2026 ↗
Next: Feasibility studies and mining application work · 31 Dec 2027
- 21 Sep 2026 Flotation commissioned; Syama output still below plan
- 20 Aug 2026 Flotation commissioned; ramp-up through H2 2026
- 30 Jul 2026 Stage 1 commissioning started
- 5 Jun 2026 Commissioning; shutdown deferred to mid-June
Company filings. Not investment advice.